News

Olainfarm Group Sales in November Grew By 8%

on December 17, 2018

Preliminary consolidated results of JSC Olainfarm for November 2018 show that total sales of the Group have reached 10.9 million euros, which represents 8% increase compared to the same period of 2017. During the eleven months, sales of the Olainfarm Group have grown by 7%, reaching 112.6 million euros. In 11- month, period Olainfarm Group has sold its products in 52 markets worldwide.

Consolidated data
Consolidated sales data for November show that the fastest growth in November was recorded in the Netherlands, Moldova, Belarus and Kazakhstan, where turnover grew by 474%, 98%, 67% and 52%, respectively. Sales to Uzbekistan in November decreased by 34%; 15% reduction was also marked in Ukraine, which can be explained by the orderly nature of orders. In November 2018, Olainfarm’s largest outlets were Russia, Latvia and Ukraine. In total Olainfarm products in November were sold in 33 markets.

The fastest sales growth in eleven months of this year has been observed in Belarus and Tajikistan, where sales increased by 53% and 52%, respectively. A significant increase by 31% compared to the last year has also been achieved in Uzbekistan. Sales in Russia in 11 months have decreased by 5%, while sales in Latvia have risen by 18%, but in Lithuania by 23%.

 

November 2018, consolidated sales Sales, thsnd. EUR Changes to November 2017 Share in total sales
Russia 3 454 -3% 32%
Latvia 3288 24% 30%
Ukraine 1309 -15% 12%
Belarus 871 67% 8%
Kazakhstan 291 52% 3%
Uzbekistan 196 -34% 2%
Germany 161 2% 1%
Netherlands 145 474% 1%
Lithuania 142 16% 1%
Moldova 139 98% 1%
Other 924 -1% 8%
Total 10 920 8% 100%

 

11 months of 2018, consolidated sales Sales, thsnd. EUR Changes to 11 months of 2017 Share in total sales
Russia 33 716 -5% 30%
Latvia 31 827 18% 28%
Belarus 13 336 53% 12%
Ukraine 10 640 5% 9%
Kazakhstan 3 070 5% 3%
Uzbekistan 2 219 31% 2%
Germany 1 768 3% 2%
Lithuania 1 703 23% 2%
Poland 1 385 8% 1%
Tajikistan 1 300 52% 1%
Other 11 591 -18% 10%
Total 112 556 7% 100%

 

Unconsolidated dataAccording to the preliminary unconsolidated results, sales of JSC Olainfarm during November 2018 reached 7.97 million euros, which is similar to the 11-month sales results of 2017.  The largest increase in sales in November was recorded in the Netherlands and Poland, where sales grew by 474% and 254%, respectively. In November, sales fell by 8% in Russia, while sales in Ukraine dropped by 19% compared to the last November. A decrease of 34% was also noted in Uzbekistan. In November 2018, Olainfarm’s products were sold in 30 countries worldwide.

According to the preliminary unconsolidated results, sales of JSC Olainfarm during November 2018 reached 7.97 million euros, which is similar to the 11-month sales results of 2017.  The largest increase in sales in November was recorded in the Netherlands and Poland, where sales grew by 474% and 254%, respectively. In November, sales fell by 8% in Russia, while sales in Ukraine dropped by 19% compared to the last November. A decrease of 34% was also noted in Uzbekistan. In November 2018, Olainfarm’s products were sold in 30 countries worldwide.

According to unconsolidated 11-month results, sales of Olainfarm in Belarus have increased by 27%, in Latvia by 17%, in Ukraine by 5%, while sales in Russia have felt by 10% compared to 11 months of 2017. The largest increase in sales over the reporting period has been achieved in Tajikistan, Lithuania and Uzbekistan, where turnover grew by 59%, 35% and 31%, respectively. In total, during the eleven months of 2018, JSC Olainfarm products were sold in 46 countries.

November 2018, unconsolidated sales Sales, thsnd. EUR Changes to November 2017 Share in total sales
Russia 2 923 -8% 37%
Latvia 1 616 18% 20%
Ukraine 1 249 -19% 16%
Belarus 622 24% 8%
Uzbekistan 196 -34% 2%
Germany 160 17% 2%
The Netherlands 145 474% 2%
Lithuania 135 14% 2%
Poland 122 254% 2%
Kazakhstan 119 4% 1%
Other 708 12% 9%
Total 7 996 0% 100%

 

11 months of 2018, unconsolidated sales Sales, thsnd. EUR Changes to 11 months of 2017 Share in total sales
Russia 29 124 -10% 34%
Latvia 15 675 17% 18%
Ukraine 10 970 27% 13%
Belarus 10 430 5% 12%
Uzbekistan 2 219 31% 3%
Kazakhstan 1 990 0% 2%
Germany 1 752 5% 2%
Lithuania 1 573 35% 2%
Tajikistan 1 267 59% 1%
Poland 1 043 3% 1%
Other 9 358 -18% 11%
Total 85 401 2% 100%

 

Performance of daughter companies in November and 11- months period
Sales of pharmacies of Latvijas aptieka Ltd. in November 2018 reached 2.1 million euros which represents an increase of 11% vs. the November 2017. 69 pharmacies were operating during September. Sales of Silvanols in November reached 0.51 million euros and increased by 13%. Combined sales of Tonus Elast and its Russian sales arm Elast Medical were 1.05 million euros. Combined sales of healthcare companies Diamed and Olainmed in November reached 0.25 million euros.  Sales of NPK Biotest in November 2018 reached 0.20 million euros.

Sales of pharmacies of Latvijas aptieka Ltd. in 11- months of 2018 reached 21.4 million euros, which represents an increase of 9% compared to the same period of 2017. Sales of Silvanols Ltd. in 11-months were 5.5 million euros and demonstrated a 16% increase in comparison to the same period of the last year. Sales of Tonus Elast Ltd. in eleven months period reached 9.2 million euros.  Combined 11-month sales of healthcare companies Diamed and Olainmed reached 2.4 million euros, but sales of NPK Biotest – 2.1 million euros.

According to the estimates of JSC Olainfarm, the unconsolidated turnover of the company in 2018 could reach 96 million euros, while the consolidated turnover – 130 million euros. According to the preliminary turnover figures published here, in the 11-months of 2018, 88% of the total unconsolidated turnover planned for 2018 and 83% of the planned annual consolidated turnover has been achieved.

JSC Olainfarm is one of the biggest pharmaceutical companies in Latvia with more than 45 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company’s operations is to produce reliable and effective top- quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 60 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.

 

Information prepared by:
Inga Krukle
Board Member, JSC Olainfarm
Ph. +371 28698449
inga.krukle@olainfarm.com

Olainfarm Group Sales in November Grew By 8%